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1099-R

Level 1

I have client who withdraw $60,000 from his IRA.  He is retired - wants to spread the taxes over  3 years per the CARES act.    Did not have COVID and is retired.  Does he qualify to do this?

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2 Replies 2
Level 15

"Does he qualify to do this?"

Have you read the rules and provisions?

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Level 15

You should refer to the IRS:

https://www.irs.gov/newsroom/coronavirus-related-relief-for-retirement-plans-and-iras-questions-and-...

 

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"Level Up" is a gaming function, not a real life function.